Stakeholder pressures and corporate environmental strategies continue to be important topics of corporate sustainability. Limited by sample size, there is a lack of general conclusions on which groups of stakeholder pressures are the main drivers of environmental strategies. Amassing a database of 58 empirical studies, the authors divided stakeholder pressures into four groups—internal, coercive, market, and social pressure—and explored the relationship between different pressures and environmental strategies by conducting a meta-analysis. The main result shows that internal pressure is the main driver of environmental strategies. Further empirical results show that stakeholder pressures could have a larger effect on corporate environmental strategies in developed countries and that non-manufacturing firms could change their environmental strategies more easily than manufacturing firms. The results provide the practical implication that a green industry transition is strongly needed in the manufacturing industry, especially for polluting industries, and that firms in polluting industries should implement environmental strategy changes in the future. This paper contributes to clarifying the relationship between stakeholder pressures and corporate environmental strategies based on a meta-analysis.

The mutual fund plays an important role in corporate governance and corporate social responsibility. From the perspective of the social network, using data from A‐listed companies in China from 2009 to 2016, this paper empirically tests the influence of mutual fund networks on corporate social responsibility behaviours. To solve the sample selection bias in this study, we utilize propensity score matching to find the different social responsibility behaviours between firms with or without highly concentrated mutual funds. Our results suggest that mutual fund investors positively impact a firm's corporate social responsibility performance, as predicted. The fund network centrality and pressure mechanism have a positive impact on corporate social responsibility performance because they provide more peer pressure and network information to firms in which they are heavily invested. This paper provides new evidence on how mutual fund investors affect corporate social responsibility performance, which is meaningful to examine in corporate green governance.

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